Expansion
Huawei, China's giant telco company has posted revenue of $3.45 billion in 2010, up 30 per cent on last year. According to the company's annual report, Huawei reported an increased net profit of CNY 23.8 billion, up 30.0 percent from 2009.
Most of Huawei's revenues come from outside China. The company chiefly attributed the increase to strong overseas sales. It also noted its devices recorded considerable growth in the operator resale market in developed markets such as the USA and Japan.
Though international sales were up in 2010, Huawei was blocked from expanding in the US due to military concerns. In fact, a US security panel reportedly rejected the company's attempt to buy American company 3Leaf systems earlier in February. However, Huawei's prospects for future growth in the US are uncertain.
The company maintained steady growth last year. By the end of 2010, Huawei had shipped 120 million devices around the world. The company reported that it had deployed over 80 SingleRAN networks for operators, among which 28 LTE networks were commercially launched or ready to be launched.
The company launched its enterprise business in 2010 and also intends to dedicate extensive resources to further develop this offering.
Ken Hu, Deputy Chairman of Huawei Technologies said "operators continue to choose Huawei for our unique ability to transform their needs into customized, innovative, and flexible solutions that create maximum value for their business."
Moving forward, Huawei said it will adopt a market-oriented corporate governance structure to evolve into a provider of integrated ICT solutions.
